Labcorp and OPKO Health, Inc. have inked a deal according to which Labcorp is set to purchase certain assets of BioReference Health, a wholly owned subsidiary of OPKO Health. With this deal, Labcorp will take over BioReference Health's laboratory testing businesses involved in clinical diagnostics, along with reproductive and women's health services throughout the United States, excluding New York and New Jersey. The transaction is valued at $237.5 million.
Labcorp has stated that the targeted assets which it plans to buy presently yield approximately $100 million in yearly revenue. Furthermore, the company claims this proposed acquisition aligns with its strategic and financial objectives.
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